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Wednesday, October 7, 2015

Axis Bank realigns home loan rates; introduces new slab

Country’s third largest private lender Axis Bank, on Tuesday, introduced a new slab for its home loan borrowers with offers starting at 9.60 per cent onward.

The newly introduced slab is for loans up to Rs. 28 lakh, an official spokesperson of the bank said.

For salaried borrowers, home loans up to Rs. 28 lakh will come at 9.60 per cent, which is only 0.10 per cent over its revised base rate of 9.50 per cent, he said.

While the loans above Rs. 28 lakh will attract 9.65 per cent interest, he added.

The rates compare with rival ICICI Bank and HDFC’s offerings, which have been revised in the past two days, and are a shade expensive than SBI’s offering.

State Bank of India’s best offering for women is 9.50 per cent, while the same for other borrowers is 9.55 per cent.

Non-bank lender HDFC, which also announced a rate cut yesterday, is on par with ICICI Bank’s 9.60 per cent for women and 9.65 per cent for others.

Source : Thehindubusinessline


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